ICICI Securities records 91% surge in Q4 net profit to Rs 1.59 billion

ICICI Securities' revenue rose 32% to Rs 18.59 billion as against Rs 14.04 billion in FY17

Investment services firm ICICI Securities on Saturday reported a 91 per cent rise in net profit to Rs 1.59 billion in the fourth quarter of 2017-18, compared to Rs 830 million in the year-ago period.

This is the first time the company has declared its results since making a stock market debut earlier this month.

During the quarter, ICICI Securities reported revenue of Rs 5.15 billion, up 35 per cent from Rs 3.81 billion in the year ago period. The company's board recommended a final dividend of Rs 3.90 per equity share of face value of Rs 5, taking the total dividend for the year to Rs 9.40 per share, against Rs 6.36 per share in FY17.

For the full financial year 2017-18, ICICI Securities' revenue rose 32 per cent to Rs 18.59 billion as against Rs 14.04 billion in FY17. Net profit increased 65 per cent to Rs 5.58 billion as against 3.39 billion in FY17, the company said in a statement.

"This fiscal the company has registered a robust performance in all its business segments. ISec is well positioned to take advantage of the macroeconomic trends of increasing financialisation and equitisation in household savings," ICICI Securities MD and CEO Shilpa Kumar said.